Course 10 of 20 · Power Origination and PPA Desk Academy

Physical PPAs & Sleeving

Stage C, Settlement and pricing. Level 6 of 10.

Arranging a utility sleeve or supply-linked physical delivery, including imbalance treatment, shaping and the sleeving fee stack.

122 chapters · 12 modules · every chapter one 8 to 10 minute explainer · builds on: Course 02, Course 05, Course 07, Course 08

Enrol or enquire See the 122 chapters
How a chapter is delivered

One chapter is one idea taken to the point of use

Each chapter covers one idea to the point where you can use it, and comes two ways: a narrated explainer, and a deep dive audio discussion of around thirty minutes that works the same material at depth.

Self-paced throughout, and the same chapters can be taught as a cohort. Chapters run in order: each one assumes only what the chapters before it taught, and capability belonging to a later course is named and deferred rather than half-covered.

Curriculum

12 modules · 122 chapters

Open any module for its full chapter list, in teaching order.

M0 The Sleeve as a Three-Party Arrangement Ch 1-10
  1. Three Parties, Three Seats, One Flow of Electrons
  2. What a Sleeve Is Actually Being Paid to Absorb
  3. Why the Generator Cannot Simply Sell to the Factory
  4. The Buyer's Reason for Wanting One Supplier Only
  5. What the Utility Gets Out of Standing in the Middle
  6. How Many Contracts Does a Physical Route Need?
  7. The Risks a Sleeve Does Not Make Disappear
  8. The Vocabulary of Sleeving and Where It Is Used Loosely
  9. One Market's Licensing Rules Are Not Everyone's
  10. Where This Material Stops and Who Takes It On
M1 Why a Licensed Supplier Stands in the Middle Ch 11-20
  1. The Supply Licence as the Reason the Sleeve Exists
  2. Licence-Exempt Supply and the Ceiling It Runs Into
  3. Who Is Registered as Responsible for the Meter
  4. Balancing Responsibility as a Transferable Obligation
  5. The Generator's Route to Market Decision
  6. Appointing the Supplier Before the Buyer Is Found
  7. Choosing Which Utility to Ask
  8. Running a Sleeve Tender Among Suppliers
  9. Whose Mandate the Middle Party Is Acting Under
  10. A Sleeve With No Utility in It at All
M2 The Contract Set and Keeping It Back to Back Ch 21-31
  1. The Two Bilaterals and the Document That Links Them
  2. The Tripartite Agreement and What It Is For
  3. Back-to-Back Price Linkage Between the Two Legs
  4. The Volume That Must Be Identical on Both Legs
  5. Conditions Precedent Spread Across Two Documents
  6. Term Alignment When One Leg Is Fifteen Years and the Other Three
  7. Drafting the Flow-Through of Curtailment and Deemed Volume
  8. Attribute Transfer Written Through the Middle Party
  9. Assignment, Novation and the Right to Change Partners
  10. Reading a Supply Agreement for the Sleeve-Specific Clauses
  11. A Clause Register for Three Linked Documents
M3 Matching Generation to Load Inside the Sleeve Ch 32-41
  1. What Matching Means When Both Sides Are Measured
  2. Half-Hourly Matching and What It Leaves Unmatched
  3. Monthly and Annual Matching as a Different Bargain
  4. Sizing the Contract Volume Against a Site's Demand
  5. Deliberately Undersizing to Avoid Spill
  6. One Generator Matched to Several Buyers
  7. Several Generators Matched to One Buyer
  8. Matching Across Different Grid Locations
  9. The Matching Statement Three Parties Can Agree On
  10. A Worked Matching Month for One Wind Farm and One Factory
M4 Top-Up and Spill: The Residual Supply Obligation Ch 42-52
  1. Top-Up Defined as the Load the Contract Did Not Cover
  2. Spill Defined as the Output the Load Could Not Absorb
  3. Who Is Contracted to Supply the Top-Up
  4. Who Is Contracted to Take the Spill
  5. Pricing the Top-Up Without Rebuilding a Supply Tariff
  6. The Tolerance Band Around Expected Residual Volume
  7. The Buyer That Stops Consuming for a Fortnight
  8. The Generator That Produces Nothing for a Week
  9. Capping the Buyer's Exposure to Residual Prices
  10. Firming a Sleeve With Market Purchases
  11. A Worked Residual Cost for One Sleeved Year
M5 Imbalance Exposure as a Contracted Allocation Ch 53-63
  1. Imbalance as a Clause, Not a Calculation
  2. Why the Generator's Deviation Is the Utility's Problem
  3. Three Ways a Sleeve Can Allocate Imbalance Cost
  4. Absorption for a Fixed Fee and What the Utility Is Betting
  5. Pass-Through at Outturn and What the Generator Then Carries
  6. The Shared Band and the Threshold That Defines It
  7. The Forecast Obligation the Generator Signs Up To
  8. Whose Forecast Governs When Two Disagree
  9. The Buyer's Own Consumption Deviation
  10. Does the Sleeve Net Generation Against Demand?
  11. A Worked Imbalance Allocation for One Volatile Week
M6 The Sleeving Fee Stack Ch 64-75
  1. The Fee as a Stack of Named Services
  2. The Balancing Service Component
  3. The Shaping Component
  4. The Residual Volume Component
  5. The Credit and Collateral Component
  6. The Administration and Registration Component
  7. The Attribute Handling Component
  8. Pass-Through Costs That Are Not Fee at All
  9. The Retained Margin and What Justifies It
  10. Who Actually Pays the Fee
  11. Comparing Two Sleeve Quotes on One Basis
  12. A Worked Fee Stack for One Sleeved Arrangement
M7 Supply-Linked and Behind-the-Meter Physical Delivery Ch 76-85
  1. Delivery That Never Touches the Public Network
  2. The Backup Supply Contract Behind a Private Connection
  3. Standby Charges and the Capacity You Rarely Draw
  4. Exporting From Behind the Meter Into a Sleeve
  5. The Private Wire With a Licensed Supplier Attached
  6. Metering a Site With Two Sources of Energy
  7. Attributes From a Behind-the-Meter Plant
  8. The Landlord, the Tenant and the Rooftop
  9. When the Buyer Leaves the Building
  10. Choosing Between a Direct Connection and a Sleeve
M8 Credit, Default and the Middle Party in Between Ch 86-94
  1. Two Credit Relationships, Not One
  2. Why the Buyer Is Not Exposed to the Generator
  3. The Generator's Exposure to a Utility That Fails
  4. Step-In and the Supplier of Last Resort
  5. Collateral Held Against the Sleeve Rather Than the Trade
  6. The Buyer Whose Covenant Will Not Carry Fifteen Years
  7. Suspension Rights and the Energy That Still Flows
  8. Cross-Default Between the Two Legs
  9. A Worked Default Walked Through Three Seats
M9 Running the Sleeve Month to Month Ch 95-104
  1. Getting the Arrangement Registered Before First Flow
  2. The Handover Pack From Deal Team to Operations
  3. Who Submits What, and When, Every Day
  4. The Three Invoices a Sleeved Month Produces
  5. Reconciling a Matching Statement Three Ways
  6. Waiting for a Volume That Has Not Settled Yet
  7. Attribute Flow Tracked Against Delivered Volume
  8. The Quarterly Review the Three Parties Hold
  9. Holding a Sleeve in a Trading and Risk System
  10. Measuring Whether the Sleeve Is Doing Its Job
M10 Term Mismatch, Change of Supplier and Renegotiation Ch 105-113
  1. The Fee Review Nobody Plans For
  2. Fixing a Fee for Longer Than the Supply Contract
  3. The Buyer That Retenders Its Supply Mid-Contract
  4. Transferring a Sleeve to a New Middle Party
  5. The Interim Period With No Supplier Appointed
  6. Rebalancing the Sleeve When the Load Changes
  7. Adding a Second Generator to a Running Sleeve
  8. Unwinding a Sleeve Without Killing the Generation Contract
  9. What Long-Term Administration Hands Over
M11 A Sleeve Arranged End to End Ch 114-122
  1. The Brief: One Wind Farm, One Manufacturer, One Utility
  2. Case Part One: Choosing the Route and the Middle Party
  3. Case Part Two: Sizing and the Matching Rule
  4. Case Part Three: Residual Terms and Imbalance Allocation
  5. Case Part Four: The Fee Stack as Quoted and as Agreed
  6. Case Part Five: The First Year as It Actually Ran
  7. Explaining the Arrangement to Three Different Boards
  8. What a Sleeve Cannot Do
  9. Where the Physical Arrangement Goes Next

The brochure gives each of these 122 chapters a paragraph on what it covers and what you can do once you have worked through it.

This is course 10 of twenty

It stands alone, and it is also the entry point to the Power Origination and PPA Desk Academy pathway.

Enrol or enquire See the whole pathway